The following press releases and media reports about Chinese companies were carried on July 8. To view a full article or story, click on the link next to the headline.
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China Stock Slump Spreads as Alibaba (NYSE: BABA) to JD.com Whipsaw Investors (English article)
Weibo (Nasdaq: WB) Enters E-commerce Business (Chinese article)
Wanda Cinema (Shenzhen: 002739) Line H1 Revenues Up 41 Pct to 3.48 Bln Yuan (English article)
Uber’s China Rival Didi Kuaidi Said to Raise Funds From Ping An, Capital Int’l (English article)
Alipay In 130,000 Offline Stores, as Ant Financial Gets $45 Bln Valuation (Chinese article)
Bottom line: Alibaba, Tencent and Ping An’s online insurance joint venture should easily find backers for its first major fund-raising, and could even exceed its $8 billion valuation target due to strong demand.
Zhong An targets $1 bln in new funds
This year’s list of major private funding raising by high-tech firms continues, with word that an online insurance joint venture involving 2 of China’s biggest Internet names is seeking to raise a hefty $1 billion in its first funding round. This particular venture certainly has a strong pedigree, as it’s backed by Alibaba (NYSE: BABA) and Tencent (HKEx: 700), China’s 2 leading Internet companies with a combined market value of nearly $400 billion. The pair are joined in the venture by Ping An (HKEx: 2318; Shanghai: 601318), China’s second largest insurer and also one of the most aggressive players in its space. Read Full Post…
The following press releases and media reports about Chinese companies were carried on March 25. To view a full article or story, click on the link next to the headline.
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Alibaba, Tencent, Ping AnInsurance JV Seeks $1 Bln Series A Funding (English article)
Bottom line: Complaints of problems from a major solar plant builder reflect the difficulty of new construction in China, and could wreak havoc on the sales and finances of panel makers and their construction partners.
Solar entrepreneur Shi complains of bureaucracy
Two solar energy news items are showing both the attraction and also the frustration that developers are feeling as they try to build new clean-energy power plants to help China wean itself from its dependence on fossil fuels. On the attraction side of the story, the industry has just won a major new backer in the form of insurance giant Ping An (HKEx: 2318; Shanghai: 601318), which is teaming up with panel maker Trina Solar (NYSE: TSL) in a new plant-building initiative.
But the frustrations that many plant builders are feeling were on prominent display in a separate report that cited another major developer complaining of the difficulties of new construction. Those kinds of complaints aren’t really new, and are being caused by provincial government interference and other local issues in the many remote locations where new plants are being built. Read Full Post…
The following press releases and media reports about Chinese companies were carried on January 23. To view a full article or story, click on the link next to the headline.
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Wanda Cinema (002739.SZ) Surges To 44 Pct Limit on Shenzhen Trading Debut (English article)
WeChat Global MAU Reaches 440 Mln, Moments Ad Rates Revealed (English article)
Ping An (HKEx: 2318) Acquires City Of London Property For $482 Mln (English article)
TCL (Shenzhen: 000100) Reorganizes Into 3 Main Produce Areas (Chinese article)
TAL Education (NYSE: XRS) Announces Unaudited Results Fiscal Q3 (PRNewswire)
The following press releases and media reports about Chinese companies were carried on December 31. To view a full article or story, click on the link next to the headline.
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Fosun (HKEx: 656) To Buy Meadowbrook In $433 Mln Transaction (English article)
Ping An Unit Buys 1 Bln Yuan In United PV (HKEx: 686) Convertible Bonds (Chinese article)
Linekong (HKEx: 8267) Finishes Flat In HK Trading Debut (Chinese article)
China Plans To Extend Green Vehicle Subsidies Until 2020 (English article)
ZTE (HKEx: 763) Unveils Redesigned Logo In New Strategic Focus On M-ICT Innovations (Businesswire)
The following press releases and media reports about Chinese companies were carried on December 2. To view a full article or story, click on the link next to the headline.
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Fosun (HKEx: 656) Raises Club Med (Paris: CU) Bid Hours Before Deadline (English article)
Jack Ma, Pony Ma May Join In Ping An’s (HKEx: 2318) $4.75 Bln Fund Raising (Chinese article)
Earlier reports of e-commerce leader Alibaba’s strong political ties appear to be overstated, following word that archrival Tencent (HKEx: 700) has become the first of China’s major Internet firms to win a highly sought banking license. Both companies had been aggressively expanding into financial services over the past year, though each was reliant on partnerships with other companies that already had licenses to offer services in the highly regulated sector dominated by big state-run companies. But now Tencent will be able to offer many of those services on its own, following this ground-breaking award of a license from the nation’s banking regulator. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 9. To view a full article or story, click on the link next to the headline.
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Ping An (HKEx: 2318) Of China Said To Buy Lloyd’s Of London Building (English article)
BMW (Frankfurt: BMWG) Extends Sales Lead Over German Rivals in June (English article)
ICBC (HKEx: 1398) Beats Bank of America on List Of 1,000 Top Global Banks (Chinese article)
The uneasy partnership formed more than half a year ago between US insurance giant AIG (NYSE: AIG) and China’s PICC Group (HKEx: 2328) has taken another tentative step forward with the finalization of a joint venture between the 2 companies. The move marks a symbolic one for AIG, reversing its global pullback of the last 5 years after it nearly collapsed at the height of the global financial crisis in 2008. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 5. To view a full article or story, click on the link next to the headline.
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China Mobile (HKEx: 941), Vodafone (London: VOD) To Bid For Myanmar License (HKEx announcement)
Nokia (Helsinki: NOK1V) Closes Biggest China Stores (Chinese article)
UBS Was Mystery Lender For Thai Group’s Ping An Buy (HKEx: 2318) – Sources (English article)
